CBS Surges Ahead Of Dividend Announcement


Thursday’s trading on Wall Street brought ups and downs for media stocks, but a day of riches for CBS Corp. investors.

CBS shares increased 1.8%, to $64.16, its second-highest close ever. The gains came prior to the company’s announcement that its Board of Directors gave the OK on a quarterly dividend of 18 cents per share. The dividend is payable on April 1 to shareholders of record on March 10.

On the decline was Entercom, which dipped 2%, to $14.50, and iHeartMedia, which slipped 0.9%, to $1.14.

The RBR Radio Index fell 1.729, or 0.29%, to 600.445.
The TVBR Television Index rose 6.110, or 0.63%, to 974.069.


Beasley, up 3.2%

Fox, up 2.3%

Cumulus, up 1.9%



Radio One, down 3.3%

Entercom, down 2.0%

Tribune Media, down 1.9%